scholarly journals Extending the Scope of ALM to Social Investment: Investing in Population Growth to Enhance Sustainability of the Korean National Pension Service

2021 ◽  
Vol 13 (1) ◽  
pp. 401
Author(s):  
Woong Bee Choi ◽  
Dongyeol Lee ◽  
Woo Chang Kim
Keyword(s):  
Fertility Rate ◽  
Low Fertility ◽  
Multistage Stochastic Programming ◽  
Defined Benefit ◽  
Social Investment ◽  
New Approach ◽  
Liability Management ◽  
Good Investment ◽  
Near Future ◽  
Benefit System

The Korean National Pension Service (NPS) is a partially funded and defined-benefit system. Although the accumulated Fund of the NPS has been increased gradually, this large fund is concerned about depletion in the near future due to the unprecedented aging population and the low fertility rate. In this study, we have developed an asset-liability management (ALM) model that endogenizes variables which were regarded as being exogenous by including them in investable assets. We present the multistage stochastic programming (MSP) formulation incorporating the population structure as a variable that is new to ALM. The optimal portfolio encompassing the investment in raising the fertility rate is obtained. Extending the scope of ALM to social investment is a new approach that has not been attempted in other ALM studies. We demonstrate that socially driven investments can also be a good investment asset in which the NPS should consider to invest.

A Social Investment Turn in East Asia?

2017 ◽  
Author(s):  
Timo Fleckenstein ◽  
Soohyun Christine Lee
Keyword(s):  
Welfare State ◽  
East Asia ◽  
Family Policy ◽  
Welfare States ◽  
Low Fertility ◽  
Female Employment ◽  
Industrial Workers ◽  
Social Investment ◽  
Investment Policies ◽  
Employment Participation

The welfare states of Japan, South Korea, and Taiwan were built by conservative elites to serve the project of late industrialization, and for this reason the East Asian developmental welfare state focused its resources on those who were deemed most important for economic development (especially male industrial workers). Starting in the 1990s and increasingly since the 2000s, the developmental welfare state has experienced a far-reaching transformation, including the expansion of family policy to address the post-industrial challenges of female employment participation and low fertility. This chapter assesses social investment policies in East Asia, with a focus on family policy and on the South Korean case, where the most comprehensive rise of social investment policies were observed.

LOW FERTILITY RATE AND CONSUMPTION BEHAVIOR OF HOUSEHOLDS IN TAIWAN

2019 ◽  
Vol 64 (01) ◽  
pp. 175-190
Author(s):  
JR-TSUNG HUANG ◽  
JIUN-NAN PAN ◽  
MING-LEI CHANG ◽  
SHIH-YI YOU
Keyword(s):  
Fertility Rate ◽  
Economic Consequences ◽  
Disposable Income ◽  
Low Fertility ◽  
County Level ◽  
Health Care Education ◽  
Total Consumption ◽  
Consumption Behavior ◽  
The Impact ◽  
The Relationship

Since the economic consequences of a low fertility rate, such as a change in consumption patterns, might affect the path of economic growth, this study investigates how the relationship between the low fertility rate and consumption behavior in Taiwan has changed over time. Using county-level panel data from 1995 to 2014 to examine the impact of the low fertility rate on the consumption behavior of households in Taiwan, the major finding of this study is that a low fertility rate will change the behavior and the composition of consumption. A low fertility rate will increase the share of the total consumption expenditure in a household’s disposable income, in particular, in relation to the consumption categories of food, health care, education, and transportation and communication, but will decrease the share of expenditure on clothing in the household’s disposable income.

Alzheimer's Electroencephalogram Event Scalp and Source Localization

2016 ◽  
pp. 33-49
Author(s):  
Pedro Miguel Rodrigues ◽  
João Paulo Teixeira ◽  
Diamantino R. S. Freitas
Keyword(s):  
Source Localization ◽  
The Elderly ◽  
Clinical Settings ◽  
New Approach ◽  
Brain Anomalies ◽  
Available Technology ◽  
Temporal Events ◽  
Near Future ◽  
Electroencephalogram Eeg ◽  
Irreversible Impairment

Alzheimer's disease is the most common cause of dementia which causes a progressive and irreversible impairment of several cognitive functions. The aging population has been increasing significantly in recent decades and this disease affects mainly the elderly. Its diagnostic accuracy is relatively low and there is not a biomarker able to detect AD without invasive tests. Despite the progress in better understanding the disease there remains no prospect of cure at least in the near future. The electroencephalogram (EEG) test is a widely available technology in clinical settings. It may help diagnosis of brain disorders, once it can be used in patients who have cognitive impairment involving a general decrease in overall brain function or in patients with a located deficit. This study is a new approach to improve the scalp localization and the detection of brain anomalies (EEG temporal events) sources associated with AD by using the EEG.

Solving Low Fertility Rate with Technology?

2018 ◽  
Author(s):  
Jung-ok Ha
Keyword(s):  
Population Policy ◽  
Fertility Rate ◽  
Low Fertility ◽  
Vitro Fertilization ◽  
National Crisis ◽  
Planning Project ◽  
Modern Family ◽  
National Family Planning ◽  
The Government

South Korea's total fertility rate (TFR) in 2005 was 1.08, the lowest in the world. The government launched the National Support Program for Infertile Couples (“the Program”) in 2006 which expenditures for diverse assisted reproductive treatments are subsidized. This chapter seeks to critique three aspects of the Program. First, the Program is a population policy that has not kept up with changes in family values and practices. Second, the Program’s very implementation has created demand, ‘those diagnosed as infertile’ have become ‘infertile members of the population’. Lastly, the Program has resulted in a meaningful increase in the number of in vitro fertilization treatments, and this increase has negatively impacted the health of women and children. Reproduction has always been a field for political struggle, and political imagination-created reproduction is revealed most strikingly when reproduction becomes a “population problem”. South Korea’s National Family Planning Project was brought by the Park Chung-hee government, which emphasized the value of the “modern family,” specifically, “Modernization of the Fatherland,” as part of economic development in the 1970s. The low fertility rate that South Korea is now facing is considered a national crisis and the Program represents the government’s will to solve the crisis through medical technologies. However, the bodies of women are still considered objects in TFR statistics, much as they were in the 1970s. This has led to a situation in which the health and even the lives of women are being endangered once again

scholarly journals China’s Population Policy at the Crossroads: Social Impacts and Prospects

2013 ◽  
Vol 41 (2) ◽  
pp. 193-218 ◽  
Author(s):  
Quanbao Jiang ◽  
Quanbao Jiang ◽  
Shuzhuo Li ◽  
Quanbao Jiang ◽  
Shuzhuo Li ◽  
...  
Keyword(s):  
Ethical Issues ◽  
Population Policy ◽  
Labour Force ◽  
Fertility Rate ◽  
Low Fertility ◽  
Replacement Level ◽  
Counter Measures ◽  
History Of ◽  
Biased Sex Ratio ◽  
Three Stages

Abstract China’s total fertility rate fell below replacement level in the 1990s. From the 1970s the fertility rate declined dramatically, mainly as a consequence of the national population policy whose aim has been to limit birth numbers, control population growth and boost economic growth. Having achieved such a low fertility rate, how will China’s population policy evolve in the future? This paper first reviews the history of China’s population policy since 1970 in three stages: 1970–1979; 1980–1999; and after 2000. We explore the impacts of China’s population policy, including relief of pressure on China’s environment and resources, fertility decline, the unexpectedly high male-biased sex ratio at birth (SRB), the coming shortage of labour force, and the rapid aging of the population, and extinction of racial and cultural diversity. We also investigate ethical issues raised by the implementation of the policy and its results. Finally we introduce the controversy over potential adjustment of the policy, acknowledging the problems faced by western countries with low fertility and the counter-measures they have taken. We offer some suggestions that might be appropriate in the Chinese context.

scholarly journals A multistage stochastic programming asset-liability management model: an application to the Brazilian pension fund industry

2016 ◽  
Vol 18 (2) ◽  
pp. 349-368 ◽  
Author(s):  
Alan Delgado de Oliveira ◽  
Tiago Pascoal Filomena ◽  
Marcelo Scherer Perlin ◽  
Miguel Lejeune ◽  
Guilherme Ribeiro de Macedo
Keyword(s):  
Stochastic Programming ◽  
Pension Fund ◽  
Management Model ◽  
Multistage Stochastic Programming ◽  
Asset Liability Management ◽  
Liability Management ◽  
Fund Industry
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